RFP Financial Group LLC Has $1.45 Million Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

RFP Financial Group LLC reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 7.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,886 shares of the financial services provider’s stock after selling 540 shares during the period. RFP Financial Group LLC’s holdings in JPMorgan Chase & Co. were worth $1,452,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Retirement Group LLC grew its stake in JPMorgan Chase & Co. by 227.1% in the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after buying an additional 109 shares during the last quarter. Fairway Wealth LLC bought a new position in shares of JPMorgan Chase & Co. in the second quarter worth about $32,000. Richardson Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. in the first quarter worth about $34,000. Anfield Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth about $34,000. Finally, Davidson Capital Management Inc. acquired a new stake in JPMorgan Chase & Co. in the 1st quarter valued at approximately $37,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Down 0.3 %

Shares of NYSE:JPM opened at $223.42 on Thursday. The company’s fifty day moving average is $214.96 and its 200-day moving average is $205.09. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $225.92. The company has a market capitalization of $641.59 billion, a PE ratio of 12.46, a P/E/G ratio of 3.28 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. The firm had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $4.33 earnings per share. Equities research analysts predict that JPMorgan Chase & Co. will post 16.75 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.24%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.89%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on JPM shares. StockNews.com upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Piper Sandler increased their price target on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. BMO Capital Markets boosted their price objective on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Evercore ISI upped their price objective on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Royal Bank of Canada lifted their target price on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $217.94.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.